JoeBen Bevirt hopes to make his company's electric air taxis as cheap as hailing a rideshare, he told Axios' Joann Muller at the annual What's Next Summit in D.C. on Tuesday.
The big picture: Bevirt, the founder and CEO of electric air taxi developer Joby Aviation Inc., said he wants to make the electric air taxis "accessible to everyone."
Coinbase is locked in a multifront battle with the SEC and... the SEC.
The big picture: In one courtroom, the U.S.'s biggest crypto exchange is defending against allegations that it violated securities rules. In another, it's arguing that it's the securities regulator that's run amok of the law.
Unilever today said it intends to spin off its ice cream unit, including Ben & Jerry's, along with top-selling global brands like Wall's and Magnum, Axios' Pete Gannon writes.
Why it matters: Known as much for social activism as its wonky flavors, the Vermont-based ice-cream maker will headline the newly separated $8.5 billion business.
The jackpot for tonight's Mega Millions drawing is an estimated $893 million — the 10th-largest U.S. lottery prize ever, Axios' Kelly Tyko writes.
Between the lines: Only five Mega Millions' jackpots have been bigger. All of them eventually surpassed $1 billion, lottery officials said in a statement.
The cash option for the drawing is worth approximately $421.4 million, the lottery website said.
The big picture: Bigger prizes — and fewer jackpot winners — have become the norm since Powerball and Mega Millions made the games harder to win and more enticing to play a few years ago.
What we're watching: Mega Millions drawings are held at 11pm ET on Tuesdays and Fridays.
The new auto emissions standards are due out this week from the Biden administration, and they're expected to see an immediate challenge, Nick Sobczyk writes for Axios Pro: Energy Policy.
Why it matters: The tailpipe rules, expected as soon as Wednesday, would be the toughest ever and would help spur the transition to EVs.
Driving the news: Sen. Dan Sullivan (R-Alaska) says that he and Sen. Pete Ricketts (R-Neb.) would immediately introduce a Congressional Review Act resolution as soon as the rules are finalized.
"A number of us view that this is going to be, in essence, a de facto ban on internal combustion engines," he said during a news conference at CERAWeek (h/t to Axios' Ben Geman).
Global central bankers, desperate to jolt post-financial crisis economies out of a stagnant state and stoke inflation, embarked on a grand experiment in the 2010s — pushing interest rates into negative territory. Now, that experiment is officially over.
Why it matters:Japan ended its negative interest rate policy Tuesday, the last nation to exit from once-unthinkable strategies meant to address an economy trapped by sluggish growth and deflationary conditions.
Meme investmentsare back — and this time they're not being fueled by a Federal Reserve policy of holding interest rates at zero.
Why it matters: Getting rich quick for the lulz turns out to have been a lot of fun. Why let high interest rates, or the lack of federal stimulus checks, get in the way?
